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Google Beats Estimated Earnings for Q2; Google+ Hits 10 Million Users

On Thursday Google held the second quarter 2011 earnings conference call revealing that the company has surpassed Wall Street forecasts and reached a new record for quarterly revenue. The search giant earned $9.3 billion for the second quarter, up by 32% from the same period last year.

Operating income was 32% of the revenues or $2.88 billion. Google’s net income for the quarter was $2.51 billion up from $1.84 billion in 2010 Q2. 69% of the search company’s revenue came from Google-owned sites that generated $6.23 billion in revenues, a 39% increase over a year period.

AdSense generated $2.48 billion, accounting for 28% of Google’s revenue. International revenues totaled $4.87 billion, representing 54% of total revenues. Non-GAAP earnings-per-share were $8.74, surpassing the $7.86 projected by Wall Street.

On the other hand, Google’s operating expense grew from last year’s $1.99 billion to $2.97 billion. Capital expenditures were even higher that in Q1 ($890million) reaching $917 million in the second quarter. The company says that majority of the expenses was related to land and building purchases, and IT infrastructure investments.

Google headcount is growing, as on the global level company now employs 28,768 full-time employees, up from 26,316 in March 31, 2011. Google says this number excludes 450 employees hired as a part of the ITA acquisition.

During Google’s quarterly earnings call CEO Larry Page revealed some interesting data about the Google+ project saying that the company’s social network surpassed 10 million users in just two weeks. Users are sharing and receiving 1 billion items per day on the recently launched social network. He also noted that Google’s social plugin +1 button is being served 2.3 billion times a day.

Talking about Android Google’s CEO said, “We have tremendous new businesses being viewed as crazy-Android. I actually have a new metric to report in Android of 550,000 phones activated a day. That is a huge number, even by Google’s standards.” Page also said that Google’s Web browser Chrome now has 160 million users and is the fastest-growing browser.

“All of us at Google will want to create services that people in the world use twice a day just like toothbrush. And we strive to make those services beautiful, simple and easy to use..Google is just getting started, and that’s why I’m here, working hard to lead the company in the next level,” Page concluded.

 

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This entry was posted on Friday, July 15th, 2011 and is filed under Business Incubator. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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